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FOREIGN CROPS AND MARKETS 



ISSUED WEEKLY BY 

UNITED STATES DEPARTMENT OF AGRICULTURE 

BUREAU OF AGRICULTURAL ECONOMICS 
WASHINGTON. D C 



Vol. 34 April 26, 1937 No. 17 



LATE CABLES... 

The 1936 aggregate grain crop of the Soviet Union estimated on basis 
of interpolation of official comments at 85,000,000 short tons, as compared 
with Beverage of around 99,000,000 short tons during past 3 years. These 
figures presumably do not take account of all crop losses but they do con- 
firm a serious drought damage in the Volga and other regions of the Union. 
The yield, however, in southern regions and in Siberia is officially re- 
ported at 20 to 25 percent above 1935. Spring sowings, which were consid- 
erably behind last year early in the campaign, picked up and by April 10, 
seedings amounted to 36,100,000 acres compared with 30,700,000 acres on the 
same date a year ago. (Berlin office, Bureau of Agricultural Economics.) 

Condition of v/inter crops considered average or somewhat below 
average in most of central Europe and many other sections. Winter damage 
to 7/heat and barley noted especially in northeastern Germany and western 
Poland, where the late spring, with rainy cool weather, has hindered re- 
sowings. There has been some shift to and a probable increase in area de- 
voted to potatoes and sugar beets in Germany and to feed grains generally. 
Sowings of winter grains in Germany reported as follows, with 1936 com- 
parisons in parentheses: Wheat 4,579,000 acres (4,725,000), rye 10,403,000 
(10,970,000), barley 1,134,000 acres (1,063,000). Final estimates of 1936 
grain crops, exclusive of Saar, as against 1935 figures in parentheses, 
placed as follows: Wheat 162,148,000 bushels (171,488,000), rye 289,747,000 
(294,399,000), barley 155,975,000(155,586,000), oats 386,012,000 bushels 
(371,040,000). (Berlin office. Bureau of Agricultural Economics.) 

Yugoslav corn production in 1936 placed at 204,004,000 bushels as 
compared with 119,222,000 bushels harvested in 1935. (International In- 
stitute of Agriculture, F.ome . ) 

India final estimate of 1936-37 cotton production placed at 5,278,000 
bales of 478 pounds from 25,219,000 acres compared with 4,965,000 bales from 
25,999,000 acres in 1935-36. (Director of Statistics, Calcutta.) 

Southern Rhodesia flue-cured tobacco crop for 1936-37 placed at 
16,000,000 pounds. The 1935 36 crop reached 18,200,000 pounds. Current 
output reported as reduced by drought. The -reason's marketing of flue-cured 
tobacco began April 19. (Tobacco Specialist P. G. Minneman, London.) 



222 



Foreign Crops and Markets 



Vol. 34, Eo. 17 



GMIImS 

Canadian ^rain stocks reduced 

Total stocks of wheat in Canada on Ma.rch 3]., 1937, were estimated 
at 118,005,000 bushels as compared with 246,797,000 "bushels, the revised 
tota.l for March 31, 1936, it was reported "by the Dominion Bureau of Statis- 
tics at Ottawa. The 1937 figure is the lo-jest reported at this date since 
1922, v/hen total stocks were placed at 114,986,000 bushels. Stocks of 
oats, harlej/, and rye were also considerahly lower than on the correspond- 
ing date last year, while stocks of flaxseed were only slightly higher. 
The quantity of wheat remainir^g on farms as of March 31, 1937, was esti- 
mated at 46,931,000 "bushels, or 20 percent of the total 1936 crop. On 
March 51, 1936, 17 percent of the 1935 crop wr s still on farms. 

The percentage of wheat considered urjnerch an table this season 
reached a record low level, largely "because the 1936 crop of the Prairie 
Provinces suffered so little dojiiage from rast and frost. Only aoout 
1,500,000 "bushels, or .7 percent, were estimated to "be of unmerchantable 
quality as compared with 9,869,000 bushels, or 3.5 percent from the 1935 
crop. TJheat for feeding- purposes is expected to amount to about 12,774,000 
bushels during the 1936-37 season as compared with 20,939,000 bushels so 
utilized in 1935-36, 

CMIADA: Total stocks on hand I/larch 31, 1935-1937 



oommocLity : — i 

: 1935 : 1936 : 1937 

: 1 ,000 bushels : 1,000 bushe ls : 1,000 bushels 

Wheat : 283,032 : 246,797 : 118,005 

Rye : 4,612 : 6,979 i 1,954 

Barley i 22,767 • 31,448 : 19,734 

Oats • 113,191 ; 155,783 : 79,504 

Flaxseed ' 581 ■' 695 : 888 



Dominion Bureau of Statistics, Ottawa. 

COTTOK 

Expansion in China's cotton acreage 

Present conditions indicate that the 1937 cotton acreage for all 
China may slightly exceed that of 1936, the Shanghai office of the Bureau 
of Agricultural Economics reports. TTeather conditions in some important 
cotton regions, especially in the Yangtze Valley, are favorable for the 
planting of somewhat larger acreage than in 1936. In 1^-Iorth China good 
rains occurred in some of the cotton districts during the past month while 
other areas are still in need of moisture. China's record cotton crop 
produced in 1936 was estimated by the Shanghai office at 3,700,000 bales 
of 500 pounds. 



I 



April 26, 1937 



Foreign Crops and Markets 



223 



China's Fetruary imports of j\jnerican raw cotton amounted to 1,785 
hales as against 2,234 in January and 13,876 hales in Fehruary 1935. 
Takings of American cotton during the period Octoher-Fehruary 1936-37 were 
6,076 hales compared with 32,940 hales durirjg a similar 1935-36 period. 
China's March imports of Americ3n cotton will show an increase, judging 
hy the volume of Shanghai .preliminary arrivals, v^tiich were estimated at 
5, 758 hales. 

Prices of domestic and foreign cotton at Shanghai have adva.nced 
slightly. Mills continue to operate at full capacity. Some new spindles 
installed in North China mills are expected to he In operation hy the end 
of April, resulting in an increased production in that area. 

The Chinese Government ha.s heen considering a high increase in taxes 
on yarn produced hut ohjections vo„iced hy the yarn spinners is e:cpected to 
result in a downward revision of the increased rates. The proposed no?/ 
rates are .7 cent per pound on counts of 16 and under, .8 cent on 17 and 
23 counts, one cent on 24 to 35 counts, and 1.3 cents per pound on yarn 
of 36 counts and ahove. The promulgation of these ratos will add little 
to the wholesale yarn prices and they will have only a slight effect up- 
on the total consumption of cotton. 

CHINA: Imports of raw cotton in Fehruary 1937, with comparisons 
, (In ha le s of 500 pounds) 



Growth 



American. 
Indian. . . 
Egyptian. 
Others. . . 

Total. . 



Fehnaary 


Octohe'r - 


Fehruary 


•■ , 1936 


1937 


1935-36 


■ 1936-37 


; Bales 


Bo.le s 


Bale s 


'Bales 


: 13,876 


1,785 


32,940 


: 6,076 


: 444 


1,579 


4,705 


4,952 


j 2,899 


2, 179 


11,790 


12,433. 




1,316 


281 


14 , 569 


: 17 , 219 


6,859 


49,716 


38,030 



CHINA: Stocks in Shanghai puhlic warehouses, March 31, 1937 

with comparisons 



Growth 


1935 


1937 


March 31 


Fehruary 28 ; 


March 31 




Bales 


Bale s •• 


Bale s . 


American 


8,000 


a/ j 


3,000 


Indian 


1,000 






Chinese 


148 , 000 


118,000 : 


159,000 


Egyptian , '. . 


1,000 


2,000 : 


2 , 000 


Others 




2,000 ; 


1,000 


Total 


158.000 


122,000 i 


165,000 



a/ Negligihle 



224 



Foreign Crops a.rd Markets' 



Vol. 34, No. 17 



CHDTA: Price per pound of specified grades of cotton and yarn, 



Shanghai. April 10, 1937, wit h comparison s. 



Growth 


J — — > , — — — ■ - — 1 : ■, 1 

jJcX w o u X ijio J- J. V c X A* 


Cii J--'-, Xl'O / 








Clents 


Conts 


Domestic cotton .. 


Current month 


11.67' 


12.14 


Domestic cotton . . 


2 months forwprd 


11.97 


12.43 


American middling 


Immediate shipment 


18.44 


18.48 


Indian Akola 


Immediate shipment 


13.34 


13.75 




2 ifionths forward 


16.71 


17.00 



European cotto n te xti le situation continues favo rable 

March developments in the European cotton textile industry have 
heen generally under the influence of the rapid rise in raw cotton prices, 
in the new levels of which there would appear to "be considerable confi- 
dence, as reported "by the Berlin office of tne Burea.u of Agricultural 
Economics. This confidence is based upon the general rise in world prices 
of raw materials, behind \7hich cotton prices have tended to lag, the out- 
look for only moderate increases in cotton production, and the steadily 
growing evidence of genc;ral economic recovery and of increasing purchasing 
power. 

Current mill consumption of raw cotton in Europe, though slightly 
higher than a year ago and relatively satisfactory, everything considered, 
still leaves much latitude for f'orther recovery, provided there are no 
unforeseen setbacks. Utilization is still only about 8 percent above the 
low period of early 1932 and about 15 percent under the high rate of con- 
sumption recorded in early 1929. If Germany, Italy, and Spain were to 
return to more normal use of raw cotton, which might necessitate some re- 
placement of staple fibre by raw cotton, there would be a considerable 
increase in total European ta-kings and the consumption figures \70uld com- 
pare more favoraoly with previous periods of gree.ter activity. Normal 
consumption in these three countries at the present time would raise total 
European consumption to about 10 percsnt oeloiv 1929 figures as against 
the actual figure of 15 percent below. 

The current relatively favorable levels of mill activity in. Europe 
continue to be based largely upon domestic demand, since the trend of ex- 
port business, notably in Great Britain where March was particularly dis-, 
appointing, continues to be generally less enco-oraging than home trade, 
Italy is the only important cotton textile country where recent advances 
in mill occupation and in the imports and consumption of cotton can be 
attributed largely to gains in export business. The Italian industry has 
been exceedingly aggressive in this direction, under the stimulus offered 
by the Italian regulations governing cotton imports and with the a,id af- 
forded by the depreciation of the lira in October 1936, 



April 26, 1937 



foreign Crops and i/iarkets 



225 



Buying of raw cotton during March under the stimulus of rising 
rav/ cotton quotations, has "been of fairly substantial volume in most of . 
Europe, except in areas like Germany where the possibilities for more 
than average acquisitions from m.onth to month are limited. Moderate to 
fair activity in the Liverpool spot market coincided with substantial 
buying in India for British account, and with good interest for forward 
delivery of American and South American cotton both at Liverpool and on 
the Continent. 

The rise in cotton prices at Liverpool since the latter part of 
February has carried spot prices of American Middling Tair Staple from 
7.40d. up to 8.05d. on April 1, and Brazilian, Argentine, and '^est and 
East African growths moved much in line. At the end of March, there- 
fore, there was not much change in the price relationships between these 
growths, except for a slight narrowing of the spread between Brazilian 
and American cotton after the middle of March. On the other hand, the 
premiums increased for Egyptian Uppers and Sakellaridis as against 
American Middling. Egyptian Uppers, with one minor exception, attained 
the highest premiuja over American Middling since 1S33. present x^rice 
relationships betv;o?en American and competitive growths continue to fa- 
vor the use of Indian and Brazilian cotton; substantial taxings of 
these two cottons, at the expense of Amjrican, are in evidence, notably at 
British mills. 

DRY BEANS 

_Str ong export demand for Danubian dry beans 

The 1936 dry-been crop of the Danube Basin totaled about 11,058,000 
bags of 100 pounds, it is estLmated by the Belgrade office of the Bureau 
of Agricultural Economics. In 1935, 10,941,000 bags were produced, and 
the average for 1930-1934 was 12,247,000 bags. (See table on page 230.) 
It is expected that e.-qjorts from the Basin during September-August 1936-37 
will approximate 3,307,000 bags as compared with actual exports in 1935-36 
of 2,390,000 bags and average annual e^^orts during 1930-31 to 1934-35 
Of 3,404,000 bags. Since foreign demand has been unusually strong this 
season, corn has been subbtituted for beans in the peasants' diet to a 
greater degree then is generally tne case. Prices have been firm and 
above the , levels of 1935-35. Exports for the first half of the ma.rketing 
season, September-Eebruary, amounted to 1,951,000 bags, of which 40 per- 
cent origina.ted in Samrjnia, 26 in Bulgaria., 21 in Yugoslavia, and 13 per- 
cent in Hungary. The .-lediterranean Basin countries have been the most 
active importers of Danubian beans this season, but considere.ble quantx- . 
ties have also been takien by Belgium, Germany, end the United States. 



226 



Yol. 34, No. 



OILS Am OILSEEDS " ■ ■ ■ . 

Ma-ncliur ian so y bean situ ation 

Exports of soylDeans from Manchuria for" the first half of the 1936-37 
season (October-September) Tiere slightly above last season while exports 
of bean oil and. bean cake for the first 6 months were below last season, 
according to information received by radio from Assistant Agricultural 
Commissioner J. Barnard Gibbs at Shanglaai . The 1936 Manchurian soybean 
crop was officially estimated at 4,663,000 short tons (155,424,000 
bushels) compared with the 1935 harvest of 4,246,000 tons (141,791,000 
bushels) . Prices in Manchuria this season for soybeans and bean products 
are above those of last year. 

Exports this crop year of bean cake and meal and soybean oil to 
the United States are larger than those of last year. Available statis- 
tics for the first 4 months, October to January, show bean cake and meal 
exports to the United States were 21,000 tons compared with 5,500 tons 
for the same period last year and bean, oil exports were 2,200 tons com- 
pared with 500 tons for the same 4 months la,st year. 

The Dairen soybean market dunng March, according to American 
Consul G-rummon, was more active than in February as a result of increased 
purchases by German, British, and Japanese buyers, but actual shipments 
abroad during March declined from those of the preceding months. Daily 
arrivals of beans at Dairen from the interior showed some decline compared 
with preceding months. Stocks at the end of March in Dairen, however, were 
above those of previous months and for the same period a year ago. The 
bean oil market at Dairen during March was quite active but the bean cake 
and meal market was relatively inactive. Prices increased during March 
for soybeans and bean products because of the improved demand from abroad 
for beans and bean oil. 



MAIJCHURIA: Soybean exports October-March 1935-36 and 1936-37, 
and surplus, March 31, 1936 aaid 1937 



I tem 


: Exports 


: Unexported surplur, a,/ 


Cctober- 


-March 


; March 31 


1935-36 


1936-37 


1936 


1937 




1,000 
short tons 


1,000 
short tons 


1,000 


1 , COO 
f^hnrt tons 


1,366 
57 
596 


1,312 

46 
510 


769 
27 
385 : 


1,266 
38 
&S4 




Bean cake and meal. • 



a/ Estimated in Manchuria. 



April 26, 1937 Foreign Crops and Markets 227 



IvCAircHlIRIA: Price per pound of soy"beans at Dairen, 
April, 1936 and 1937 ' ' 





' April average 


A'pril 7 


I tern 


; 1935 


■ 1937 




; gents 


Cents. 






1.75 






5.40 






1.16 



Peanut production in China a.nd Manchuria, above 1935 



The 1936 production of peanuts in China and Manchuria is "between 
15 and 20 percent above tha.t of 1935, and the coinhined exports of peanuts 
and peanut oil from China and Manchuria during the 1936-37 marketing year 
(Kovemher through October) are expected to amount to the equivalent of 
about 312,900 short tons of shelled nuts compared \7ith 263,500 tons in 
1935-36 and 383,300 tons in 1934-35, according to a report received from 
Assistant Agricultural Commissioner J. Barnard G-ibbs, at Shanghai. 

Exports from China thus far this season have been retarded some- 
what because the prices for nuts sold for domestic consumption have been 
more_ favorable than export prices. South China has been an especially 
heavy buyer of North Cliina peanuts. Supplies, however, have recently ac- 
cumulated in the market centers of North China, and prices are declining. 
In view of this development, exports are expected to begin moving out in 
considerable quantity in the near future. See table on exports, page 250. 

Chinese exports during the 1936-37 marketing season are expected 
to amount to an equivalent of 200,900 short tons of shelled nuts, as 
against 166,700 tons in 1935-36 and 275,000 tons during 1934-35. Exports 
of unshelled nuts, most of which go to European markets, probably will 
be about the same as last year, or approximately 30,000 tons. Exports 
of shelled nuts during 1936-37 are forecast at 70,000 tons as against 
51,800 tons last season and 138,000 tons in 1934-35. Most of the shelled 
nuts also are shipped to Europe, vdth some to Japan and Canada, 

Chinese exports of peanut oil are expected to amount to 42,000 tons 
against 36,000 tons in 1935-36 and 42,500 tons in 1934-35. The United 
States is the chief export market for Chinese peanut oil. TThile the 
American shipping strike interfered with the movement from November 1 to 
the end of January, total 1936-37 shipments of oil to the United States 
are expected to exceed those of 1935-36, when shipments amounted to 25,548 
tons or approximately 70 percent of the total Chinese oil exports. 

Spot prices at Tsingtao, the principal ma.rket center, for unshelled 
nuts in January 1937 were $2.50 per 100 pounds as compared with $2.13 in 



Foreign Crops and Markets 



Vol. 34, No, 17 



October, the close of the 1935-36 marketing year. The Tsingtao prices- 
for shelled nuts in January 1937 averaged $3.01 ver 100 pounds as against 
$2.82 in October 1936. Oil prices, which are of particular importance 
to the United States, have shovvTi a considerable rise. The average price 
in January 1937 at Tsingtao was $5.98 per 100 pounds, in comparison v/ith 
$4.78 in October 1936. The respective prices for Chinese peanut oil, 
quoted c.i.f. Pacific Coast, were $6.80 and $6.00. 

Data on the 1926 peanut production in Manchuria are not available, 
but it is estimated to be somewhat above 'the -production of 1935, .showing 
a continuation of the trend for increased production which .began some 
years ago. Exports, which have been increasing rapidly in-recent years, 
are expected to total the equivalent of approximately 112,000 short tons 
of shelled nuts in 1936-37 as against 96,800 tons for the preceding year 
and 108,200 tons in 1934-35. It is expected that the bulk of exports, 
consisting of shelled nuts, will go to Europe. 

Prices to date this season for Tjeanuts and peanut oil at Dairen 
have been higher than a year ago. They were not as high, however, as 
prices on the Chinese markets and have been more nearly comparable with 
those offered by buyers for European export. 

The une35)orted surplus of peanuts still on hand in China on 
February 1 this year was estimated at 12,200 tons of -anshelled nuts, 
53,900 tons of shelled, 34,600 tons of oil, and 10,000 tons of cake. 
The surplus still available in Manchuria as of February 1 is not known, 
but on January 1 it was estimated at 19,400 tons of unshelled nuts, 
.92,000 tons of shelled, and practically no oil or cake. 

FRUITS, VEGETABLES, M^D NUTS 

Cuban pineapple exports increase 

, Exports of pineaxjples from Cuba this season are expected to be 
around 900,000 crates, exclusive of bulk shipm.ents, compared with 
780,000 crates last season, according to Harold S. Tewell, American 
Consul at Habana. Around 50 cars of pineapples in bulk are expected 
to be shipped to American canneries and from 100 to 150 cars to Canadian 
canneries. Four canneries in Cuba intend to pack pineapples this year 
and a larger pack than in 1936 is expected, states the Consul. 

Vegetable season successful in Puerto Rico 

The 1936-37 Puerto Rican vegetable exporting season, which came 
to an end early in April, has been a generoJly successful one from the 
standpoint of returns to growers, as reported by A'. S- Mason, Associate 
Marketing Specialist, at San juan.- ViTeather conditions during the season 
were generally fo.vorable, with the exception of a period in January when 
heavy rains destroyed a considerable acreage of cucumbers, beans, and 
tomatoes. Present indications point to heavier vegetable plantings next 
season. 



April 26, 1937 Foreign Crops and Markets ■ 229 



March exports of vejSietables from Cuba light 

S>rports of fresh vegetables from Caba to the United States in 
March amounted to 5,856 short tons, or the smallest exports for that 
month since 19o4, according to Harold S. Tewell, j^erican Consul at 
Habana. Tomatoes and cucumbers were the only vegetables of which the 
exports we're larger than in March of last year. Recent hot vveather 
and heavy rains have adversely affected the remaining crop and exports 
in April are expected to fall considerably below those of April 1936, 
states Mr. Tewell. It seems apparent that exports of vegetables from 
Cuba to the United States during the 1936-3? season will be materially 
under those of 1935-36. Total exports from November to March, 1936-37, 
are equal to 36,334 tons compared with 39,144 tons in the same 5-month 
period of 1955-36. 

LIVESTOCK, MSATS, AND WOOL 

United States active in April wool auctions 

United States buyers shared the leading position with Japanese 
interests in buying Australian wool during the first half of April, 
according to Consul E. E. Evans at Bradford, England. At both Sydney 
and Melbourne, British firms frequently were outbid by representatives 
of the two lonner countries. In New Zealand also, Am.erican buyers were 
active, as v.'ere those of Japan, Great Britain, and continental countries. 
Very large clearances of offerings v/ere made at all primary selling 
centers. Prices of both Australian and New Zealand wool were very firm, 
with a decided upward tendency. 

At Bradford, makers of semi-manufactures were reported as seeing 
no cheaper wool becoming available in the near future. Confidence in 
raw wool values has been strengthened by the competitive interest dis- 
played in the primary markets, and the statistical position of both 
merino and crossbred wool is regarded as very strong. Up to mid-April, 
the cost of rav: wool had not been reflected in current Bradford prices 
of tops and yarns, but quotations were advancing. 

The upward tendency in raw -wool values developed an increasing 
volume of business in tops at improved prices. Crossbreds continue to 
sell more freely than merinos. Transactions in the lower qualities con- 
tinue limited by scarcity in supplies of suitable raw wool. Large weights 
of crossbred tops, however, have been going into consumption. Deliveries 
of merino tops also were showing improvement. In the week ended April 10, 
certain grades of tops were going at prices equal to those of the season's 
high point reached in the second week of January 1957. All other branches 
of the industry report firm price positions. Cloth buying, however, while 
still in fair volume, appears to be feeling some cons'omer resistance. 



230 



Joreign Crops and Markets 



Vol. 34, No. 17 



DRY BEMS: Production in the Danube Basin, average 



Country and item 


Average 1930-1934 


1935 


1936 


Beans planted alone 
Bulgaria 


1,000 bags 


1,000 bags 


1,000 bags' 


1 , 254 
108 
1,951 

739 


1,206 

51 ■ 
1,527 

496 


1,338 
128 

1,433 
771 


Total Basin. . . . 
Beans interplanted 

Ramani a 


4.052 


3, 380 


3, 570 


278 
1,338 
4,328 


264 
710 
4,554 

o , Uoo 


298 
1,248 
3,417 

<o , to J> 


Total Basin .... 
All beans 

Total Basin. . . . 


8,195 


7,561 


7,388 


1,532 
1,446 
6,279 
2,990 


1,470 
761 
6,181 
2,529 


1,636 
1,375 
4,850 
3,196 


12,247 


10,941 


11,058 



Belgrade office. Bureau of Agricultural 
100 TDOunds. 



Economics. Converted to bags of 



PEANUTS: Exports from China and Manchuria during marketing year. 
_______ November-October, 1932-33 to 1936-37 



Country of origin 
and year 



Europe 



Hongkong; 



Japan 



United 
States 



Others 



Total 



CHINA a/ 

1932- 33. . . 

1933- 34. . . 

1934- 35. . . 

1935- 36. . . 

1936- 37 b/ 
MANCHURIA c/ 

1933- 34 d/ 

1934- 35. . . 

1935- 36. . . 

1936- 37 b/ 



Short 

tons 
102, 513 

94,542 
144,098 

47,157 



70 , 510 
90,220 
68,526 



S hort 

tons 

37,731 

42,010 

26,907 

13,597 



7,458 
878 
4,733 



Short 
tons 
9,284 
11,358 
7,007 
5, 674 



4,103 
5,454 
7,875 



Short 
tons 
627 
9,924 
57,592 
67, 639 



2,033 
1,827 
738 



Short 

tons 

41,519 

34,432 

39,442 

32,647 



18,854 
21,050 
22,385 



Short 

tons 
191, 674 
192,266 
275,045 
165,714 
200, 850 

102,958 
119,409 
104,257 
120,000 



Compiled from Chinese Maritime Custom Returns and Monthly Returns of 
Mancho^dkuo Eoreign Trade. 

a/ Total shelled equivalent of exports of unshelled and shelled nuts and 
of oil. b/ Forecast by Shanghai office. Bureau of Agricultural Economics; 
c/ Combined exports of unshelled and shelled. Not separately classified 
in Customs Returns by destination, d/ Estimate based on approximate ex- 
ports for November and December 1933 which were not officially reported 
and actual exports for the 10 months January to October 1934. 



April 26, 1957 



I'oreign Crops and Markets 



231 



COTTON: Price per pound of representative raw cotton at Liverpool, 

Ao'ril 16, with comparisons 

1937 



Growth 






Eeh, 


March 


April 








26 


5 


12 


19 


a/ 25 


2 


9 


16 








C ent s 


Cents 


Gents 


Cents 


Cents 


Cents 


Cents 


Cents 


American 






















Middling 






15.09 


15.66 


16.16 


16.04 


16.18 


16.25 


16.04 


15.30 


Low Middling. . . 






13. 50 


14.07 


14.57 


14'. 52 


14. -65 


14. 72 


14.51 


13.77 


Egyptian (Fally g 


ood 


fair) 


































Sakellaridis . . . 






20.80 


21.90 


22.75 


25.25 


25. -81 


26.02 


25.13 


24. 68 


Uppers 






17.25 


18.16 


18.78 


19.49 


19.76 


19.88 


•19.18 


18.66 


Brazilian (pair) 






















Ceara 






13,81 


14.37 


14.67 


14:72 


14.86 


•14.93 


14.72 


13.97 


Sao Paulo 






14.52 


15.09 


15.59 


15. 64 


15.77 


■15.-84 


15.64 


14.89 


East Indian - 






















Broach (Eally g 


ood) 




11.45 


11.91 


12.13 


12.48 


12.42 


^ 12.50 


■ 12 . 74 


12.39 


C- p. Oomra llo . 


1, 


Superfine 


11.79 


12.26 


12.47 


12 . 93 


13.05 


12.91 


12 . 84 


12.50 


Sind (Fully goo 


d) . 




10.55 


11.02 


11.27 


11.67 


11.60 


11.79 


11.78 




Peruvian (Good) 






















Tanguis 






19,62 


20.17 


20. 57 


20.75 


20,55 


20.45 


20.22 





Converted current exchange rate, a/ Thursday prices, due to holiday Eriday. 
BUTTEH: Price per pound in ]\Iew York, San Francisco, Copenhagen, and 





1956 


1957 


Market and description 


April 25 


April 15 


April 22 




Cents 


Cents 


Cents 


Copenhagen, official quotation 
London: 


29.5 
28.0 
17.0 

22.7 
19-5 
19.1 


■ 53.0 
' 33.0' 
19.6 

25.2 

' ■ ■ 25.3 

22. 6 ■ 


52.2 
53.0 
■ • ■ ■ 19.1 

24.7 
• • 23,7 
■ 23.2 








Foreign prices converted -at current rates of exchange. 



232 



To reign Crops a.nd Markets 



Vol. 34, Uo. 17 



BUTTEE: New Zealand grading, 193-6-37 season to April 9, 
with comparisons , 



Date ■ ■ : 1934-35 : 1935-36 : 1936-37 



: 1,000 pou nds i 1,000 pounds : 1,000 pounds 

'iiYee k ended \ '• '■ 

August 1 to January 29 i 200,096 1 207,950 j 216,827 

February 5 : 6,272 : 9,134' T 10,136 

12.... ; 5,65S : 8,798 ; 9,520 

19 • 5,999 ; 8,848 \ 8,960 

26 j 6.216 : 8,064 ■ ■ 8 , 624 

February total 24,143 j 34,844' ■ ■ 37-, 240 

March 5 : 6,328 ; 7,784 : 8,064 

. 12 j 6,160 : 7,952- ; 8,002 

19 ■ . . i 6,384 ; 7,336 " ] 7,672 

■ 26. , ■ 5,880 ! 6,440 ] 6,328 

March total : 24.753 ! 29,512 ] 30,066 

April 2 : 5,712 : 6,-440 : 7,056 

9 ' I 5.768 : • 5.600 ! 6.406 



Total August 1 to April 9 | 260,471 : -284,346 : • 297,595 



Agricultural Attache C. C. Taylor, London. 

BUTTER: Australian grading, 1936-37 season to April 3, 
with comparisons ; 



Date ; 1934-35 : 1935-36 ; 1936-37 



: 1.000 pounds ; 1,000 pounds ; 1,000 pounds 

Tfeek ended ; ; ; 

July 1 to January 30 ; 1 82 ,750 : 155 ,5 64 '■ 111.344 

February 6 ; " a/ : 7,101 : 5,751 

13 : a/ i 6.303 \ 5,678 

20, : a/ : ■ ■ 6,196 : 5,032 

27 i a/ ; 5.889 : 4,737 

February total i aj. • 25.489 : 21, 2.5 8 

March 6 : a/ j 4,601 ; 5,398 

13 : a/ i 4,027 i 4,995 

20 : a/ : ■ - 3,799 i ■ 4,329 

27 : sj_ : 3,774 : 4_4no 

March total : a/ • 16.201 ; 19 ,122 

April 3 ; a/ : 3.7~61 : 4". 178 



Total July 1 to April 3 ib/ 182,750 i 199,015 : 155,902 



Weekly Dairy Produce Notes, Imperial Economic Committee, a/ Not available, 
b/ Total t 0 January 30. Later statistics not a-vailable. 



April 26, 1937 



Foreign Crops and Markets 



233 



EXCHAl^JGE RA.TES: Average weekly and monthly values in New York of 
specified currencies, April 17, 1937, with compari sens a/ 



Country 


Monetary 
Unit 


1935 


1936 


1937 


1937 


Mar. 

u— 1 


Ma.r. 


Jan. 


Eeh. 


Mar. 


Apr. 

3 


Apr. 

10 


Apr. 

17 






Cent s 


Cent s 


Ce nt s 


Cent s 


Cent s 


Cents 


Cents 


Cents 



















Argentina. 
Canada. . . . 

China 

Denmark. . 
England. . . 
France .... 
Germ'any. . . 

Italy 

Japan. .... 
Mexico .... 
Netherland: 
Norway. . . . 
Sweden. . . . 
Swi tzerland. 



Paper peso . . 

Dollar 

Shang. y^aan 
Krone . . . 
Pound. . . 
Franc . . . 
Reich smark . 
Lira. . . . 

Yen 

Peso .... 
G-uilder. 
Krone.'. .' 
Krona. . . 
Franc . . . 



Month 



31.80 
99.06 
38.30 
21.32 
477.62 

6.62 
40.37 

8.34 
27.98 
27.75 
67.95 
24.03 
24.63 
32.53 



33.13 
99.84 
29.82 
22.19 
:97.C7 

6.63 
40.44 

7.93 
28.94 
27.77 
68 . 35 
24.97 
25.63 
32.82 



32.72 
99.96 
29.65 
21.91 
ii90.75 

4.67 
40.23 

5.26 
26.54 
27.75 
54.75 
24.66 
25.30 
22.94 



32. 63 
99.96 
29.60 
21.85 
[489.39 

4.66 
40.23 

5.26 
28.53 
27. '75 
54.69 
24.59 
25.23 
22.83 



32.57 
100.05 
29.66 
21.81 
1488.51 
4.59 
40.22 
5.26 
28.49 
27 . 75 
54.70 
24.54 
25.19 
22.79 



Week-ended 



32.61 
100.09 
29 . 69 
21.84 
1489.18 
4.60 
40.22 
5.25 
28.50 
27.75 
54.75 
24.58 
25. 22 
22.79 



32.66 
100.09 
29.68 
■21.87 
/489.92 
, 4.56 
40.20 
5.26 
28.53 
27.75 
54.73 
24.61 
25.2b 
22.77 



Federal Reserve Board. a/ Noon "buying rates for cahle' transfers. 



LIVESTOCK USD IviEAT 



Price per 100 pounds in specified European markets, 
April 14, 1937^ vdth comparisons a/ 



Marlret and item 



Germany: 

Price of hogs-, Berlin 

Price of - lard, tcs. , HamlDurg 

United Kirigdom: 

Prices at Liverpool first quality 

American green "bellies 

Danish Wiltshire sides 

Canadian green sides 

American short cut green h.ams 

American refined lard 



April 15, 

1936 



Dollars 

17.70 
12 -.93 



Nominal 

20.29 

17.32 

21.07 

13.92 



Week ended 



April 7, 
1937 



Dollars 

16.79 
13.92 



16.95 
20.23 
18.15 
20.85 
15.24 



April 14, 
1937 



Dollars 

16.79 
13.61 



16.98 
20.31 

20.70 
14.73 



Liverpool quotations are on the "basis of sale from importer to wholesaler, 
a/ Converted at current rate of exchange, h/ T/eek ended Friday. 



234 



vol. 54, ITo. 17 



Page 



Late cables........ 221 

Barley; 

Area, (winter)., Gernany, 
■ ' 1935, 1937 ■. . . '. . . . 221 



Production, Geri.iany, 1935,1336... 221 
Stocks, Can ads., March 31, 1937... 222 
Beans, dry: 

Exports,- Danube Basin, 

Septerroer-Jebruary 1936-57 225 



Production, Danube Basin, 

1935, 1936. . . . ; ; 225,230 

Butter: 
G-radings : 

Australia, April 9, 1937 232 

■New Zealand, April 3," 1937 232 

Prices, specified iiarlrets, 

April 22, 1937. .. 231 

Corn, production, Yugoslavia, 

1935,1936 221 

Cotton: 

Area, India, 1936,1937 221 

Imports, China, 

February, 1936,1937 223 

Planting conditions, China, 

April 1937 222 

Prices: 

Chin.?., April 10, 1937 224 

U. K. , April 16, 1937 231 

Stocks, Shanghai, March 31, 1937. 223 
Textile situation, Europe, 

March 1937 224 

Exchange rates, foreign, 

April 17, 1937 •. 233 

Grains : 

Condition (\7inter) , Europe, 

April 1937 ,221 



Production, U.S.S.H. , 1935,1936.. 221 



Oats: 

Production, Germany, 1935,1935.. 221 
Stocks, Canada, March 31, 1937.. 222 



Peanuts: 

Exp c r t a.b 1 e su ip' lu s : 

China, Eeh . 1, 1937 228 

Manchuria, Eeb . 1, 1937 .. 228 

Exports: .... 

[ China, 1932-1936 227, 230 

" Manchuria, 1933-1936 227,230 

Prices ,, Tsingtao , 

January 1937. . . . . 227 

Producoion, China and Manchuria, 

193o. '. , 227 

Pineapples, exports, Cuba, 1937... 228 
Pork, prices, foreign narkets, 

April 14, 1937. '. . 233 

^ .'. ..... 

iirea (winter) , Geri-iany, 

1935,1937 ' 221 



Production, Gerr.any, 1935,1936.. 221 
Stocks, Canada, March 31, 1937.. 222 



Soybeans : 

Exp : r 1 3 , Manchur ia , 

October-March 1936-37 226 

Marke t condi t ions , i.;e.nchur ia , 

:.';p,rch 1937 226 



Prices, Dairen, April 7, 1937... 227 

Tobacco (flue-cured) , production. 

Southern Bhodesia, 1935,1936.... 221 

Vegetables: 

Export conditions, Puerto Rico, 

1936-37 228 

Exports, Cuba, March 1937 229 

Wheat: 

Area (winter), Germany , 193d , 1937 221 
Production, C-ermany, 1935,1936.. 221 
Stocks, Ce.nada, March 31, 1937... 222 
Wo o 1 : 

Market, conditions, specified 

markets, April 1937 229